Teva results report increase in sales despite flat generic revenues

1 November 2013

Still shaken by the sudden resignation of its chief executive this week, Israel-based Teva Pharmaceutical Industries (NYSE: TEVA), the world’s largest generic drugmaker, has reported net revenues of $5.1 billion for the third quarter of 2013.

The 2% year on year increase from $4.9 billion in 2012 was due to higher sales of generic medicines in the USA and higher revenues from Teva’s global specialty and over-the-counter (OTC) medicines. The increase was partially offset by a decrease in global active pharmaceutical ingredient (API) sales to third parties.

Non-generally accepted accounting principles (GAAP) earnings per share (EPS) were $1.27 with GAAP diluted EPS of $0.84. This beat estimates of $1.26 a share, according to Thomson Reuters. Shares closed down 0.6% at $37.09 in New York yesterday.

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